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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (46193)12/28/2005 2:20:54 AM
From: John VosillaRead Replies (1) of 306849
 
This appeared in the MIDAS report at lemetropolecafe.com:

"I'm spending the winter down in the Sarasota, Fl area and while walking the pier today I ran into a Real Estate appraiser who lives and works in the area. We got to talking about the economy and he told me that the housing market down here is far worse than any of the current reports are saying. He works for a major banking corp. and does studies to determine loan guidelines. He says that the press and many realtors down here are saying that there is a one year backlog in property inventories when, in fact, the backlog of unsold houses is closer to three years. Interestingly, this fellow's brother has a similar job with a large west coast bank and operates out of Reno. His brother just finished a confidential report for his bank on the housing market in Las Vegas and found that the housing market there is backlogged with four years of inventory and says that is a very conservative estimate! I assume this man was legitimate because he gave me his business card and cell phone number as well. It checked out with who and what he said he was. The implications for the economy, and therefore precious metals, are obvious but the timing for the explosion in Gold and Silver may be a LOT sooner than most think, as you have been saying all along. This information may serve as, at least, anecdotal support for your contention.

8:52 PM

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